The GDP in Rwanda grew by 7.3% from a year ago in the fourth quarter of 2022, following a 10% surge in the previous three-month period. It marks the eighth consecutive quarter of economic expansion, though the slowest since the first quarter of 2021, as the services sector lost steam (9% vs 17% in Q3), namely activities such as hotels & restaurants (37% vs 90%); transport (15% vs 26%) and wholesale & retail trade (12% vs 20%). On the other hand, the industrial sector rebounded significantly (5% vs -1%), boosted by mining & quarrying (28% vs 5%); manufacturing (14% vs 9%), of which wood & paper; printing (26% vs 8%), textiles, clothing & leather goods (20% vs 24%) and metal products, machinery & equipment (16% vs 6%). The agricultural activity also continued to rise (2% vs 1%), supported by a sharp rebound in export crops (12% vs -1%) and livestock & livestock products (7% vs 8%). The economy of Rwanda advanced by 8.2% in 2022. source: National Institute of Statistics of Rwanda

GDP Annual Growth Rate in Rwanda averaged 7.20 percent from 2000 until 2022, reaching an all time high of 20.60 percent in the second quarter of 2021 and a record low of -12.50 percent in the second quarter of 2020. This page provides the latest reported value for - Rwanda GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Rwanda GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

GDP Annual Growth Rate in Rwanda is expected to be 7.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Rwanda GDP Annual Growth Rate is projected to trend around 7.50 percent in 2024 and 7.60 percent in 2025, according to our econometric models.

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Rwanda GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-20 10:00 AM Q3 10% 7.5% 7.3%
2023-03-17 10:00 AM Q4 7.3% 10% 8.4%
2023-06-16 08:10 AM Q1 7.3% 14.1%


Related Last Previous Unit Reference
GDP Growth Rate 1.70 3.60 percent Dec 2022
GDP Annual Growth Rate 7.30 10.00 percent Dec 2022
GDP from Transport 139.00 133.00 RWF Billion Dec 2022
GDP from Services 1369.00 1356.00 RWF Billion Dec 2022
GDP from Public Administration 146.00 168.00 RWF Billion Dec 2022
GDP from Mining 47.00 41.00 RWF Billion Dec 2022
GDP from Manufacturing 250.00 234.00 RWF Billion Dec 2022
GDP from Construction 161.00 149.00 RWF Billion Dec 2022
GDP from Agriculture 623.00 618.00 RWF Billion Dec 2022
GDP Constant Prices 2756.00 2709.00 RWF Billion Dec 2022

Rwanda GDP Annual Growth Rate
Services is the largest sector of the Rwanda's economy and accounts for 53 percent of total GDP. Within services, the most important sub-sectors are: real estate activities (8 percent), wholesale and retail trade (8 percent), cultural, domestic & other services (6 percent), administrative and support service activities and public administration and defence; and compulsory social security (5 percent each). Agriculture, forestry and fishing account for 29 percent of GDP, with food crops contributing 17 percent. The industrial sector constitutes 18 percent of the GDP, with construction (7 percent) and manufacturing (6 percent) accounting for the largest shares. On the expenditure side, household consumption is the main component of GDP and accounts for 76 percent of its total use, followed by gross fixed capital formation (28 percent) and government expenditure (16 percent). Exports of goods and services account for 19 percent of GDP while imports account for 39 percent, subtracting 20 percent of total GDP. The major source of foreign trade is coffee, tea, tin cassiterite, wolframite and pyrethrum.
Actual Previous Highest Lowest Dates Unit Frequency
7.30 10.00 20.60 -12.50 2000 - 2022 percent Quarterly
Constant 2017 prices

News Stream
Rwanda GDP Growth Slows to Nearly 2-Year Low
The GDP in Rwanda grew by 7.3% from a year ago in the fourth quarter of 2022, following a 10% surge in the previous three-month period. It marks the eighth consecutive quarter of economic expansion, though the slowest since the first quarter of 2021, as the services sector lost steam (9% vs 17% in Q3), namely activities such as hotels & restaurants (37% vs 90%); transport (15% vs 26%) and wholesale & retail trade (12% vs 20%). On the other hand, the industrial sector rebounded significantly (5% vs -1%), boosted by mining & quarrying (28% vs 5%); manufacturing (14% vs 9%), of which wood & paper; printing (26% vs 8%), textiles, clothing & leather goods (20% vs 24%) and metal products, machinery & equipment (16% vs 6%). The agricultural activity also continued to rise (2% vs 1%), supported by a sharp rebound in export crops (12% vs -1%) and livestock & livestock products (7% vs 8%). The economy of Rwanda advanced by 8.2% in 2022.
2023-03-17
Rwanda Q3 GDP Growth at Near 1-Year High
The GDP in Rwanda grew by 10% from a year ago in the third quarter of 2022, picking up from a 7.5% rise in the previous three-month period. It was the fastest growth since the last quarter of 2021, led by services, amid solid performance in activities such as hotels and restaurants (90%), ICT (34%), education (26%), transport (26%), in particular air transport (81%), wholesale and retail (20%) and finance (8%). Other significant increases were registered in the mining and quarrying sector (5%), manufacturing (9%), of which textiles, clothing & leather goods (24%) and chemicals, rubber & plastic products (21%). However, the construction sector plunged (-17%), due to a normal “downtime period". Agricultural activity expanded by just 1%, supported by livestock products (8%), while food crops (-1%) were reportedly affected by unfavorable climate conditions. On a quarterly basis, the GDP rose 3.6%, following a 4.1% expansion in the previous quarter.
2022-12-20
Rwanda GDP Grows 7.5% in Q2
The economy of Rwanda expanded 7.5% year-on-year in the second quarter of 2022, the smallest increase in five quarters, but above the average of 7.2% in the last 22 years. Services jumped 12%, as meetings, conferences and other events sent the hospitality sector up. Meanwhile, the industrial sector grew 6% and agriculture 2%, namely exports of crops and production of coffee and tea. Compared to the previous quarter, the economy expanded 4.1%, rebounding from a 2.3% contraction in the previous period.
2022-09-16